Debenhams set to close putting 12,000 jobs at risk

Debenhams stores are set to close after the failure of last-ditch efforts to rescue the ailing department store chain, the BBC understands. Debenhams fell into administration for the second time in April and hopes had rested on a rescue bid from JD Sports. Debenhams' news comes just hours after Topshop owner Arcadia collapsed into administration, putting 13,000 jobs at risk. "Geoff Rowley of FRP Advisory, joint administrator to Debenhams and Partner at FRP. said:"All reasonable steps were taken to complete a transaction that would secure the future of Debenhams. Former Debenhams chairman Sir Ian Cheshire told the BBC he felt "Desperately sorry" for its employees.

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